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Jan 24, 2013
01/13
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the ntsb is participating in many of those activities. we are evaluating potential scenarios with the systems, failure modes, we are gathering factual information to support and rebut different scenarios. we are also reviewing manufacturing records for potential issues or trends. and we are gathering information that was collected in recent supplier audits. so there's a tremendous amount of work going on all around the world. we actually have two shifts of employees. both here and in japan who really are working around the clock to try to solve this. we're going to talk a little bit more about the batteries. >> we are getting out of the ntsb pressures. you heard very highly technical about the battery. a thermal runway as the headlines cross we will continue to bring them to you on cnbc. but we also have another big press conference moments away. the president introducing a new head of the sec. let's go now and get a preview of what the president is likely to say with john har way john? >> the president will announce mary jo white as head
the ntsb is participating in many of those activities. we are evaluating potential scenarios with the systems, failure modes, we are gathering factual information to support and rebut different scenarios. we are also reviewing manufacturing records for potential issues or trends. and we are gathering information that was collected in recent supplier audits. so there's a tremendous amount of work going on all around the world. we actually have two shifts of employees. both here and in japan who...
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Jan 16, 2013
01/13
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by the way, boeing, the faa and ntsb, they all have investigators heading to japan to investigate what happened with that emergency landing. meanwhile, other airlines, which have already taken delivery, they are still flying the dreamliner. this is out of poland making its inaugural flight of the 787. right now, as we speak, maria, in a couple hours. it will be touching down here in chicago. despite airlines saying we're still going to fly, it s & p capital iq downgrading shares of boeing on the concern, maria, that eventually we could see some airline customers saying, you know what, putting me on the dreamliner, i'm skipping that flight so that's the latest of what's happening with boeing. maria? >> want to bring in a couple other voices, michael boyd, aviation expert and on the telephone jim hall, former ntsb chairman, now managing director of hall & associates. good to see everybody. thanks for joining us. would you fly a dreamliner right now? mean, knowing what we know, jim hall, would you -- what would you job advice? >> oh, yes, i would fly the aircraft. i think if there are sig
by the way, boeing, the faa and ntsb, they all have investigators heading to japan to investigate what happened with that emergency landing. meanwhile, other airlines, which have already taken delivery, they are still flying the dreamliner. this is out of poland making its inaugural flight of the 787. right now, as we speak, maria, in a couple hours. it will be touching down here in chicago. despite airlines saying we're still going to fly, it s & p capital iq downgrading shares of boeing...
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Jan 8, 2013
01/13
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ntsb tells me they expect to have an update on that investigation later today. we were talking with airlines earlier today and they said, listen, dreamliner flights have continued as scheduled. we know there's an issue with the one that was just about to take off from boston. take a look at the number of issues we've seen with the dreamliner over the last month of remember, it was just at the beginning of november that united did the first domestic flight for the dreamliner. highly regarded flight, got a lot of attention. a month later an emergency landing in new orleans after reporting mechanical problems. a few days after that, cutr air had to ground 787 jets due to what they say was a faulty generator. united grounding four due to an electrical planl panel and a fire in boston. there's a lot of headline risk right now. >> they have confirmed it is a 787. i don't know if we still have that live shot available but let's put it up while we talk about this. there you go, logan airport. what do they have to do? they have to do something very quickly. you know this
ntsb tells me they expect to have an update on that investigation later today. we were talking with airlines earlier today and they said, listen, dreamliner flights have continued as scheduled. we know there's an issue with the one that was just about to take off from boston. take a look at the number of issues we've seen with the dreamliner over the last month of remember, it was just at the beginning of november that united did the first domestic flight for the dreamliner. highly regarded...
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Jan 8, 2013
01/13
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. >> we've heard from the ntsb, expecting an update from them. they have at least an initial report regarding the fire investigation of that 77 dreamliner in boston yesterday. the ntsb saying that they have decided they are going to send two more investigators to look at the dreamliner in question and that at least initially taking a look at the fire in question they found severe fire damage to the battery of the auxiliary power unit. remember, the auxiliary power unit is what is used to provide power to an airplane when it is parked on the tarmac, not while it's in flight so the battery unit, severe fire kagge there, and it's pretty clear, scott and maria, that we are going to see more airlines, if they haven't already, they are going to start checking their wiring on the battery unit. i just spoke with the folks out of ana in japan. they have a number of dreamliners, checked theirs overnight at the urging of the ministry of transportation in j.i just talked with united airlines. it has checked the battery power wiring on all of its dreamliners,
. >> we've heard from the ntsb, expecting an update from them. they have at least an initial report regarding the fire investigation of that 77 dreamliner in boston yesterday. the ntsb saying that they have decided they are going to send two more investigators to look at the dreamliner in question and that at least initially taking a look at the fire in question they found severe fire damage to the battery of the auxiliary power unit. remember, the auxiliary power unit is what is used to...
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Jan 11, 2013
01/13
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. >> the ntsb said, this is af plane, feel confident if you are playing it. at the same time, the faa launched a special review looking at reliability and safety of the 787 dreamliner. it'll be run by the faa. but boeing will be assisting in that review and so will some of the suppliers, no doubt, as they look at electronics and use of lithium ion batteries on the dreamliner. remember a lithium ion battery was traced to be the source of the fire of the 787 that caught on fire while parked at a gate in boston on monday. in 2007 the faa made special rules for the use of lithium ion batteries on airplanes because of flammability can concerns. with all of that said, listen to what the head of the faa and secretary of transportation add to say when asked point blank, is it safe to fly the dreamliner. >> there's nothing that data has said that would suggest this airplane is not safe. >> i believe this plane is safe and i would have absolutely no reservation of boarding one of these planes and taking a flight. these planes are safe tp prs. >> another part of the rev
. >> the ntsb said, this is af plane, feel confident if you are playing it. at the same time, the faa launched a special review looking at reliability and safety of the 787 dreamliner. it'll be run by the faa. but boeing will be assisting in that review and so will some of the suppliers, no doubt, as they look at electronics and use of lithium ion batteries on the dreamliner. remember a lithium ion battery was traced to be the source of the fire of the 787 that caught on fire while parked...
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Jan 24, 2013
01/13
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regarding the ntsb investigation. here's a couple of notes, first of all, they say the battery short circuited and caught on fire but an important point. they are still trying to determine exactly why these batteries caught on fire. the bottom line, this was so serious they had to ground these planes. >> this is an unprecedented event. we are very concerned. as i mentioned in the very beginning, we do not expect to see fire events on board aircrafts. this is a very serious air safety concern the faa has taken. very serious action. >> and regarding those lithium ion batteries, today we spoke with a former worker and whistleblower. this is a supplier to boeing with the 787 dreamliners. they make the charger for the lithium ion batteries. he said he warned his superiors that the batteries were not safe and said the company ignored his warning. just a few minutes ago he described what happened when he saw one of these lithium ion batteries exemployed proceed. >> it wasn't even running and this lithium ion battery just dec
regarding the ntsb investigation. here's a couple of notes, first of all, they say the battery short circuited and caught on fire but an important point. they are still trying to determine exactly why these batteries caught on fire. the bottom line, this was so serious they had to ground these planes. >> this is an unprecedented event. we are very concerned. as i mentioned in the very beginning, we do not expect to see fire events on board aircrafts. this is a very serious air safety...
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Jan 29, 2013
01/13
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. >> reporter: the ntsb releasing an investigate on the battery investigation saying they have moved on from macroscopic investigation to a microscopic investigation. that includes chemical analysis of the areas that short circuited and checking flight data recorders. bottom line, still don't know a cause behind the incidents involving the two dreamliners. we should also point tomorrow morning on "squawk box" we'll be having the boeing fourth-quarter earnings, the first time we'll hear from the ceo since these incidents. sure to be questioned about what happens with the dreamliner tomorrow morning when boeing reports earnings. guys, back to you. >> thanks so much, phil lebeau. the dow jones industrial average 50 points away from 14,000. that 200 points away frommin a all-time high reached back in 2007. if you think that's made marc faber less bearish, you'd be very wrong. despite, that marc is the man behind the gloom, doom and boom report and joins me now to talk markets. good to see you, marc. thanks for joining us. >> my pleasure. thank you for having me. >> so you say regardless
. >> reporter: the ntsb releasing an investigate on the battery investigation saying they have moved on from macroscopic investigation to a microscopic investigation. that includes chemical analysis of the areas that short circuited and checking flight data recorders. bottom line, still don't know a cause behind the incidents involving the two dreamliners. we should also point tomorrow morning on "squawk box" we'll be having the boeing fourth-quarter earnings, the first time...
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Jan 23, 2013
01/13
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by the way, guys, hoping to get some information from the ntsb regarding the status of its investigation perhaps a little later today or tomorrow. back to you. >> very good, phil. thank you very much. i'm reminded of the famous line of ronald reagan. he said the scariest words you've ever heard is i'm from the government and i'm here to help. >> had a lot of good ones. >> he did. >> coming up next, coming right back with the closing countdown. >> and if you think the housing market is the key to the economy, jpmorgan's ceo has good news he's telling maria bartiromo. listen. >> housing has totally bottomed and getting better. you saw today homes for sales coming down there's a short supply in some market and they are all leading indicators. >> what else is jamie bullish on? find out in maria's exclusive interview coming up. >>> if phone calls are the key for apple earnings, will they be strong enough to lift the stock? we'll learn later today. instant analysis and investor reaction to the numbers on the "closing bell." a better placeom, we'd to handle your legal needs. maybe you have ques
by the way, guys, hoping to get some information from the ntsb regarding the status of its investigation perhaps a little later today or tomorrow. back to you. >> very good, phil. thank you very much. i'm reminded of the famous line of ronald reagan. he said the scariest words you've ever heard is i'm from the government and i'm here to help. >> had a lot of good ones. >> he did. >> coming up next, coming right back with the closing countdown. >> and if you think...
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Jan 9, 2013
01/13
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. >> this is an investigation with the ntsb going on so stay tuned, so to speak. >> thanks, gentlemen. appreciate it. we'll leave it there and follow this very important story. >> up next, vegas, baby. mobile mania sweeping the consumer electronics show. our tech reporter jon fortt smack dab in the middle of it all. back to sin city live in just a minute. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ office superstore ink retailer in america. now get $6 back in staples rewards for every ink cartridge you recycle when you spend $50 on hp ink. staples. that was easy. when you spend $50 on hp ink. and you wouldn't have it any other way.e. but your erectile dysfunction - you know, that coul
. >> this is an investigation with the ntsb going on so stay tuned, so to speak. >> thanks, gentlemen. appreciate it. we'll leave it there and follow this very important story. >> up next, vegas, baby. mobile mania sweeping the consumer electronics show. our tech reporter jon fortt smack dab in the middle of it all. back to sin city live in just a minute. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas...
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Jan 18, 2013
01/13
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as you mentioned, investigators from the faa and ntsb are in japan. we will have more about that in a little bit. mean while, boeing engineers are working on a solution that would allow tlem to slow the faa, listen, we've got this problem under control. it is time to get the dreamliner back in the air. they are meet og an regular basis but there is no timeframe for when they might be able to get the air worthiness redirected. now with regard to the investigators in japan, visiting the ana plane, it's on the tarmac there. they spent today looking at the plane, looking at the battery, and what they are looking for right now are commonalities between this incident in japan and incident in boston. they are also going over data because these planes are constantly giving back data to the airlines as well as to boeing. based on all of that, that is what they will be looking at it see, okay, what went wrong here. what might be the common problem and finally when you look at this battery, keep this in mind. there is so much attention focused on this battery bu
as you mentioned, investigators from the faa and ntsb are in japan. we will have more about that in a little bit. mean while, boeing engineers are working on a solution that would allow tlem to slow the faa, listen, we've got this problem under control. it is time to get the dreamliner back in the air. they are meet og an regular basis but there is no timeframe for when they might be able to get the air worthiness redirected. now with regard to the investigators in japan, visiting the ana...
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Jan 16, 2013
01/13
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the faa, the ntsb and boeing all sending investigators to japan. as i mentioned with regard to this flight, here's what the ntsb just put out in regards to this emergency landing. it says the crew received multiple messages in the cockpit concerning the battery and systems that were affected. also reported smoke in the cockpit and an odor in the cabin. we've been talking about the lithium ion batteries on the dreamliner. they're made by a company out of japan called gs yuasa. down 9% in the last week. look at that chart. that's the indication the pressure gs yuasa is under as they figure out what's going on with the lithium ion batteries. >> phil lebeau in chicago, thanks so much. >>> the question is, is it time to ground the boeing 787 for good? the vice president of the teal group corporation joins us on the phone. good morning to you. >> good morning. >> should this plane be in commercial service right now in the u.s.? >> right now the regulators are doing their jobs. they're looking at the pattern that has emerged of systemic glitches. right no
the faa, the ntsb and boeing all sending investigators to japan. as i mentioned with regard to this flight, here's what the ntsb just put out in regards to this emergency landing. it says the crew received multiple messages in the cockpit concerning the battery and systems that were affected. also reported smoke in the cockpit and an odor in the cabin. we've been talking about the lithium ion batteries on the dreamliner. they're made by a company out of japan called gs yuasa. down 9% in the...
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Jan 30, 2013
01/13
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is that what caused the failures and all of this is what ntsb is looking in. >> stan greenhaus. is there a possibility there's something beyond the electronics? >> absolutely. they have not ruled out anything. you're looking at the worst situation for boeing they don't know exactly what the problem is and as long as they don't know exactly what the problem is, it's hard to forecast a solution, path for getting out of this. that is really the worst possible situation for boeing. people would say it would be worse if it had catastrophic failures. i understand what you're saying. if you're a manufacturer, you want center artainty and you're getting certainty with understanding exactly what went wrong. >> wilike a car, it has a fire, you stop and jump out of a car. i feel better with a car with a lithion battery than 40,000 place. you don't want it either place. >> what does he use? >> he uses lithion. >> he says it's a different structure how they set it up. >> they say the 747 had huge growing pains. i wish we could look in the future and look back on this. >> don't forget, jim wi
is that what caused the failures and all of this is what ntsb is looking in. >> stan greenhaus. is there a possibility there's something beyond the electronics? >> absolutely. they have not ruled out anything. you're looking at the worst situation for boeing they don't know exactly what the problem is and as long as they don't know exactly what the problem is, it's hard to forecast a solution, path for getting out of this. that is really the worst possible situation for boeing....
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Jan 8, 2013
01/13
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the ntsb and boeing, a technical team from boeing, they're investigating the fire on the dreamliner. it was found in a compartment with batteries, and electrical components. it's not entirely clear at this point exactly what caused the fire. it is believed that it might have been caused by one of the lithium batteries on the dreamliner. that is an issue, because the dreamliner uses lithium im batteries to power onboard electronics. way back in 2007 the faa issued special rules for the use of lithium im batteries because of the concern of flammability risk involving those batteries. this is the fourth dreamliner incident involving its electronics, or losing power, since december 4th. look at this timeline. back on november 4th, united took its first domestic 787 flight, at the time there had been no reports. a month later, a united flight going to niewark to houston, experienced mechanical problems, reporting a loss of power. cutter airways a few days later had to ground one of its 787 jets for what it said was a faulty generator. the 14th of december, united grounded the second of th
the ntsb and boeing, a technical team from boeing, they're investigating the fire on the dreamliner. it was found in a compartment with batteries, and electrical components. it's not entirely clear at this point exactly what caused the fire. it is believed that it might have been caused by one of the lithium batteries on the dreamliner. that is an issue, because the dreamliner uses lithium im batteries to power onboard electronics. way back in 2007 the faa issued special rules for the use of...
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Jan 11, 2013
01/13
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but we have the faa all over the airplane, the ntsb all over the airplane. i think the risk for the -- i see two camps on this stock. you have the teethers, those who believe everything is a teether problem, and the tip of the icebergers saying could this be something else. i think with this investigation going on and the faa already actively on the airplane, it will be difficult to take event, especially if it's a severe event, and say, this is fine, this is fine. long term they're going to sort it out. i agree with what jim cramer said, i'm in the same camp that said, why not do a derivative play on this story, if you have more risk maybe someone like spirit aero systems. >> at what point do you say this is the point of fear of investors are running? that's the time to get in the stock. we've seen that in different scenarios, that we don't know what we don't know, as you said. that is exactly the time you wanted to go in. what's going to make that turning point for you, do you think? >> well, i have to say, because there's a formal investigation, normally
but we have the faa all over the airplane, the ntsb all over the airplane. i think the risk for the -- i see two camps on this stock. you have the teethers, those who believe everything is a teether problem, and the tip of the icebergers saying could this be something else. i think with this investigation going on and the faa already actively on the airplane, it will be difficult to take event, especially if it's a severe event, and say, this is fine, this is fine. long term they're going to...
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Jan 17, 2013
01/13
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we're waiting to see the results of the ntsb investigation to make a decision about what it all means. so frankly, we're saying to investors is, look, we can't say with any conviction level that there's a certain entry point where we want to jump in here and buy. what we want is more data. if you own boeing shares here, i think you hang on. i think the long-term outcome of this is that they will sort through the problems. you can see airbus this morning expressing confidence that they think boeing, their competitor will sort through the problems. but right now, you know, you're dealing with emotion and you're dealing with news flow, which is very hard for investors to forecast. >> there but for the grace of god for airbus. they're not going to crash airbus. >> look the safety of all things for airplane manufacturers, the one thing they can all agree within, the one thing they share data on, the one thing they're all committed to is safety. >> if it leaks out of the battery and has a weird smell, it's not a fire. >> yeah, that's really the important thing about what happened yesterday.
we're waiting to see the results of the ntsb investigation to make a decision about what it all means. so frankly, we're saying to investors is, look, we can't say with any conviction level that there's a certain entry point where we want to jump in here and buy. what we want is more data. if you own boeing shares here, i think you hang on. i think the long-term outcome of this is that they will sort through the problems. you can see airbus this morning expressing confidence that they think...
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Jan 8, 2013
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the ntsb is now investigating the 787 on the tarmac at logan airport yesterday morning, catching fire, after the plane had landed. the crew and the passengers had all deported. the fire was found in a compartment with batteries and electrical components. and again the passengers and crew were not on board during the fire. but this is the fourth incident since november or since december 4th where we've had a problem with the dreamliner. now remember united had its first domestic 787 flight back on november 4th. just a month later united had a flight from houston to newark, it made an emergency landing in new orleans. after experiencing mechanical problems, a loss of power. qatar air on december 9th said it grounded one of its 737 -- or 787s because of a faulty generator. similar problem, loss of power in flight. and then on december 14th, united grounds two of its four dreamliners due to problems with an electrical panel and then finally, yesterday you have the emergency crews responding to a 787 fire at logan airport. now the dreamliner, and this is of particular concern to people, it
the ntsb is now investigating the 787 on the tarmac at logan airport yesterday morning, catching fire, after the plane had landed. the crew and the passengers had all deported. the fire was found in a compartment with batteries and electrical components. and again the passengers and crew were not on board during the fire. but this is the fourth incident since november or since december 4th where we've had a problem with the dreamliner. now remember united had its first domestic 787 flight back...
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Jan 22, 2013
01/13
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now today the ntsb investigators will be in arizona visiting the secure plane facilities. that is the company that makes the charger for the battery, as they continue to figure out what happened in this case. in both cases if you take a look at shares of boeing which are likely to be under pressure today as it's clear that this investigation is extended, becky and joe, the bottom line is this, you're looking for commonality in the two failed batteries. in one case they say it was overcharged. in another case they're saying it wasn't. that's looking more and more like an indication that they don't know exactly what happened here, and as a result, figuring out a solution is going to take a little longer than originally anticipated. >> phil, we were talking earlier about how the stock has started to break down a little bit out of that trading range where it had been earlier. >> right. and the thing you want to watch, becky, the thing you want to watch is when boeing, if boeing says we have to slow down our production schedule. because that's the key. once that happens, if tha
now today the ntsb investigators will be in arizona visiting the secure plane facilities. that is the company that makes the charger for the battery, as they continue to figure out what happened in this case. in both cases if you take a look at shares of boeing which are likely to be under pressure today as it's clear that this investigation is extended, becky and joe, the bottom line is this, you're looking for commonality in the two failed batteries. in one case they say it was overcharged....
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Jan 22, 2013
01/13
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meanwhile, here in the united states, the ntsb continues to look at the japan airline 787 battery, but in reverse of what we're seeing in japan, they say this battery was not overcharged. the investigators are in arizona today visiting the battery charger manufacturer. that is a company called secure a plane. it's a subsidiary of mega plc out of the uk. over the last couple of days, that's seen a little bit of pressure as well. what we're seeing is an investigation where they haven't been able to square up what happened in japan with what happened in boston, so as a result, they're going to start diving further into the components that go into the dreamliner, and are connected and work with the battery to see if they can find out exactly what went wrong. and then from there, they might have a better sense of how to correct the situation. guys, back to you. >> now, phil, because these two regulatory agencies on opposite sides of the ocean are seeing different things in their investigation. does that tell you that the investigation may be much longer than anticipated? >> well, yeah, it w
meanwhile, here in the united states, the ntsb continues to look at the japan airline 787 battery, but in reverse of what we're seeing in japan, they say this battery was not overcharged. the investigators are in arizona today visiting the battery charger manufacturer. that is a company called secure a plane. it's a subsidiary of mega plc out of the uk. over the last couple of days, that's seen a little bit of pressure as well. what we're seeing is an investigation where they haven't been able...
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Jan 9, 2013
01/13
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now, as i said, the fire at logan is a unique example and the ntsb is investigating but i think trying to connect this event to other events is pure speculation at this point. we don't have a lot of data. >> have you seen any sign that production might be interrupted, slowed down if, in fact, they have to address the things along the production line? >> none whatsoever. >> because as the journal points out today, you get paid upon delivery and worst-case scenario would begin to avoid cash flow if they were delayed. >> yeah. look, the central bull thesis for boeing shares is about the large amount of cash the company will generate over three or four rates and with the 787 ramping up to very high levels to meet customer demand. if we were to call in to question that cash flow, that weighs against the bull thesis. we don't have any data to suggest that will happen. the planes are still flying and i would say these sorts of teething problems are normal for new planes. we have them on the a-380 and we have to wait and see and we need more data and not calling in to question the long-term fu
now, as i said, the fire at logan is a unique example and the ntsb is investigating but i think trying to connect this event to other events is pure speculation at this point. we don't have a lot of data. >> have you seen any sign that production might be interrupted, slowed down if, in fact, they have to address the things along the production line? >> none whatsoever. >> because as the journal points out today, you get paid upon delivery and worst-case scenario would begin...